Needham analyst Quinn Bolton maintained a Hold rating on Ambarella (AMBA) today. The company’s shares closed yesterday at $40.54.
Bolton commented:
“AMBA reported in-line F4Q19 revenue driven by growth in Professional Security cameras. However, F1Q20 guidance fell short of expectations as the Professional Security business is expected to decline Q/Q, more than offsetting growth in consumer security cameras. In the Chinese professional security camera market, AMBA expects order volatility resulting from global trade tensions, normal seasonality and a slowing China economy to drive the Q/Q decline in revenues from its largest customers. AMBA’s CV22 solution began shipping to one security camera OEM in January while most of the top 10 security camera OEMs will launch CV22-based cameras later in 2019 and into 2020 While we are encouraged by AMBA’s CV design win traction, we are reducing estimates and continue to monitor AMBA for an opportunity to get more positive.”
According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.0% and a 66.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.
The word on The Street in general, suggests a Hold analyst consensus rating for Ambarella.
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Based on Ambarella’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $4.54 million. In comparison, last year the company had a net profit of $1.26 million.
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Ambarella, Inc. engages in the development and sale of video compression and image processing solutions. Its products include wearable cameras, flying cameras, and automotive video processing solutions. The company was founded by Feng Ming Wang and Leslie D. Kohn on January 15, 2004 and is headquartered in Santa Clara, CA.
